153.07 POWERS GENERALLY.

   The Paden City Development Authority is hereby given power and authority as follows:

   (a)    To make and adopt all necessary bylaws, rules and regulations for its organization and operations not inconsistent with law;

      (Ord. 1989-11. Passed 10-2-89.)

   (b)   To elect its own officers who must be members of the Authority appointed by Council, to appoint committees and to employ and fix compensation to personnel necessary for its operation;
(Ord. 2014-7. Passed 8-18-14.)

   (c)   To enter into contracts with any person, agency, governmental department, firm or corporation, including both public and private corporations, and generally to do any and all things necessary or convenient for the purpose of promoting, developing and advancing the business prosperity and economic welfare of the Town of Paden City, its citizens and industrial complex, including, without limiting any of the foregoing, the construction of any building or structure for lease to the federal government or any of its agencies or departments, and in connection therewith to prepare and submit bids and negotiate with the federal government or such agencies or departments in accordance with plans and specifications and in the manner and on the terms and conditions and subject to any requirements, regulations, rules and laws of the United States of America for the construction of said buildings or structures and the leasing thereof to the federal government or such agencies or department;

   (d)   To amend or supplement any contracts or leases or to enter into new, additional or further contracts or leases upon such terms and conditions, for such consideration and for such term of duration, with or without option of renewal, as may be agreed upon by the Authority and such person, agency, governmental department, firm or corporation;

   (e)   Unless otherwise provided for in, and subject to the provisions of, such contracts, or leases, to operate, repair, manage, and maintain such buildings and structures and provide adequate insurance of all types, and in connection with the primary use thereof and incidental thereto to provide such services, such as barbershops, newsstands, drugstores and restaurants, and to effectuate such incidental purposes, grant leases, permits, concessions or other authorizations to any person or persons, upon such terms and conditions, for such consideration and for such term of duration as may be agreed upon by the authority and such person, agency, governmental department, firm or corporation;

   (f)   To delegate any authority given to it by law to any of its officers, committees, agents or employees;

   (g)   To apply for, receive and use grants-in-aid, donations and contributions from any source or sources, and to accept and use bequests, devises, gifts and donations from any person, firm or corporation;

   (h)   To acquire lands and other real property by gift, purchase, or construction, or in any other lawful manner, and hold title thereto in its own name;

   (i)   To purchase or otherwise acquire, own, hold, sell and dispose of personal property and real estate, and to own, hold, sell, lease or otherwise dispose of all or part of such personal property and any real property which it may own;

   (j)   Pursuant to a determination by the Board that there exists a continuing need for programs to alleviate and prevent unemployment within the Town of Paden City or aid in the rehabilitation of Paden City areas which are underdeveloped, decaying or otherwise economically depressed, and that moneys or funds of the Authority are necessary therefor, to borrow money and execute and deliver the Authority’s negotiable notes, mortgage bonds, other bonds, debentures, and other evidences of indebtedness therefor, on such terms as the Authority shall determine, and give such security therefor as shall be requisite, including giving a mortgage or deed of trust on its real or personal property and facilities in connection with the issuance of mortgage bonds;

   (k)   To raise funds by the issuance and sale of revenue bonds in the manner provided by the applicable provisions of article sixteen (§8-16-1 et seq.), chapter eight of the West Virginia Code as Amended, it being hereby expressly provided that the Paden City Development Authority created by this article is a “governing body” within the definition of that term as used in article sixteen (§8-16-1 et seq.), chapter eight of the West Virginia Code as amended, and

   (l)   To expend its funds in the execution of the powers and authority herein given, which expenditures, by the means authorized herein, are determined and declared as a matter of legislative finding to be for a public purpose and use, in the public interest, an for the general welfare of the people of West Virginia, to alleviate and prevent economic deterioration and to relive the existing critical condition of unemployment existing within Paden City, West Virginia.

      (Ord. 1989-11. Passed 10-2-89.)